"President Trump has secured a perpetual Golden Share as part of Nippon Steel's acquisition of US Steel," US Secretary of Commerce Howard Lutnick wrote in a social media post on X

Nippon's takeover of ailing US steel includes an agreement that gives the US government veto power over corporate decisions.

HARRISBURG, Pa. (AP) — Nippon Steel and U.S. Steel said Wednesday they have finalized their “historic partnership,” a deal that gives the U.S. government a say in some matters and comes a year-and-a-half after the Japanese company first proposed its nearly $15 billion buyout of the iconic American steelmaker.